Qatar's GDP could grow by 15% in 2027 — The National

S&P Global Ratings forecasts that Qatar's real GDP will grow by 15% in 2027, as the country may increase gas supplies. This will be preceded by an expected 14% economic contraction in 2026, The National reports.

LNG capacity losses

According to the publication, about 17% of Qatar's liquefied natural gas capacity is offline after Iranian strikes damaged two of 14 LNG export trains. Annual production capacity of 12.8 million tonnes has been removed from the market.

QatarEnergy said repairs to the damaged facilities will take from three to five years. This means that even the safe reopening of the Strait of Hormuz would allow only part of Qatar's pre-war supply volumes to be restored. Global gas prices have risen significantly due to the disruptions.

Qatar's Emir Sheikh Tamim said this month at a meeting of the Consultative Council that state revenues fell by 42% in the first half of the year due to reduced LNG exports.

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Rating and industry outlook

Despite disruptions to LNG production, S&P expects the expansion of the North Field to continue, although the project may face delays. The agency believes demand from rapidly developing Asian economies and LNG's role as a transition fuel in the energy transition will support Qatar's exports.

S&P affirmed Qatar's sovereign credit rating at AA with a stable outlook. The agency cited the country's substantial fiscal and external assets, which should help it withstand disruptions to security and trade flows. At the same time, a prolonged shutdown or new disruptions in LNG production and exports remain a key risk to the forecast.

For 2028–2029, S&P forecasts average economic growth for Qatar of 8% per year. Inflation, according to the agency, will accelerate moderately to about 4%.